Continuum Economics
  • Search
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
  • Calendar
  • Forecasts
  • Events
  • Data
  • Newsletters
  • My Alerts
  • Community
  • Directory
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
    • All
    • Thematic
    • Tactical
    • Asia
    • EMEA
    • Americas
    • Newsletters
    • Freemium
    • Editor's Choice
    • Most Viewed
    • Most Shared
    • Most Liked
  • Calendar
    • Interactive
      • China
      • United States
      • Eurozone
      • United Kingdom
    • Month Ahead
    • Reviews
    • Previews
  • Forecasts
    • Forecasts
    • Key Views
  • Events
    • Media
    • Conference Calls
  • Data
    • Country Insights
    • Shadow Credit Ratings
    • Full CI Data Download
  • Newsletters
  • My Alerts
  • Community
    • FX
    • Fixed Income
    • Macro Strategy
    • Credit Markets
    • Equities
    • Commodities
    • Precious Metals
    • Renewables
  • Directory
  • My Account
  • Notifications Setup
  • Account Details
  • Recent Devices
  • Distribution Lists
  • Shared Free Trials
  • Saved Articles
  • Shared Alerts
  • My Posts
Published: 2024-01-16T13:53:15.000Z

Canada December CPI - Still stubbornly high

byDave Sloan

Senior Economist , North America
-

December’s Canadian CPI is spot on expectations but at 3.4% yr/yr accelerated from 3.1%, with disappointment seen in the BoC’s core rates. Despite a near flat economy, Canadian inflation remains stubbornly high.

The BoC’s core rates show CPI-common unchanged at 3.9% yr/yr and CPI-median unchanged at 3.6%, but with November revised up from 3.4%. CPI-trim accelerated to 3.7% from 3.5%. The Bank of Canada has been clear that it has concerns that inflationary pressures, while off their peak, may stabilize above the 2% target.

The monthly data shows a 0.3% decline on the month both overall and ex food and energy but this decline is seasonal, with the seasonally adjusted data up by 0.3% overall and 0.2% ex food and energy.

The latter number can be seen as mildly encouraging, being softer than in October and November, but each month of Q4 and Q3 saw seasonally adjusted ex food and energy data with one month at 0.2%, one at 0.3% and one at 0.4%. A 0.3% trend is too high, and consistent with where the BoC’s core rates are on a yr/yr basis. Ex food and energy CPI is not one of the BoC’s core rates, but gives useful insight on the monthly trend. 

Continue to read the article for free
Login

or

or

Topics
Data
Foreign Exchange

GENERAL

  • Home
  • About Us
  • Our Team
  • Careers

LEGAL

  • Terms and Conditions
  • Privacy Policy
  • Compliance
  • GDPR

GET IN TOUCH

  • Contact Us
Continuum Economics
The Technical Analyst Awards Winner 2021
The Technical Analyst Awards Finalist 2020
image